The European Commission has approved a €110m grant to the Government for the construction of an electricity interconnector between Ireland and Britain.
EirGrid says the link will enhance Ireland's security of supply, encourage more competition and lower electricity prices.
The East-West Interconnector will cost €600m and when completed in 2012 will enable the movement of electrical power between Ireland and Britain along a 260km long high-voltage cabling system.
EirGrid, which operates Ireland's electricity transmission network, says the interconnector will encourage competition in the market, drive down prices and enable the renewables industry here to prosper and lower our reliance on imported fuel.
Today, the European Commission confirmed it would provide a €110m grant for the project, with construction due to commence early this summer.
Last September, the European Investment Bank granted approval for a €300m loan for the project. The Interconnector has already secured An Bord Pleanála approval.
